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Registration Rights Agreement

 

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Title:

Registration Rights Agreement

Entities:

InterActiveCorp

Date:

2002

Size:

Preview shows 7KB of 42KB total

Price:

$34

ID:

#1128186

 

 

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                          REGISTRATION RIGHTS AGREEMENT


This REGISTRATION RIGHTS AGREEMENT (this "Agreement"), is
dated as of March 28, 2002, by and among

1. USA NETWORKS, INC, a company incorporated under the laws of the state
of Delaware whose principal executive offices are at 152 West 57th Street, New
York, New York 10019, USA ("USA");

2. HARRY GOODMAN whose address is Ivers, Basted Lane, Kent, TN15 8PZ;

3. DENIS STRAUSS whose address is 21 Cheyne Walk, London SW3;

4. PETER ATKIN whose address is 12 Elms Avenue, London, N20 2JP;

5. DR URS DIETRICH whose address is Sihlporte 3, PO Box 200, CH 8021,
Zurich, Switzerland;

6. McJILL CORPORATION a company incorporated under the laws of the British
Virgin Islands whose registered office is at Cutlass Building, Wickhams Cay,
Road Town, Tortola, British Virgin Islands;

7. KUONI REISEN HOLDING AG a company incorporated under the laws of
Switzerland whose registered office is at Neue Hard 7, Zurich, CH-8010 Zurich
8005, Switzerland;

8. BARCLAYS INDUSTRIAL DEVELOPMENT LIMITED a company incorporated under
the laws of England and Wales whose registered office is at 54 Lombard Street,
London, EC3P 3AH;

9. BARCLAYS PVLP PARTNER LIMITED a company incorporated under the laws of
England and Wales whose registered office is at 54 Lombard Street, London, EC3P
3AH;

10. CLINK STREET NOMINEES LIMITED a company incorporated under the laws of
England and Wales whose registered office is at 54 Lombard Street, London, EC3P
3AH; and

11. PARALLEL VENTURES NOMINEES NO.2 LIMITED a company incorporated under
the laws of England and Wales whose registered office is at 107 Cheapside,
London, EC2V 6DU;

(each a "TVTS Shareholder", and together the "TVTS Shareholders").

W I T N E S S E T H:

WHEREAS, USA, the TVTS Shareholders and certain other parties
have entered into a Sale and Purchase Agreement, dated as of the date hereof
(including any amendment, restatement, modification or supplement thereto or
thereof, the "Acquisition Agreement"), providing for, among other things, the
acquisition by USA of all the ordinary shares of TV Travel Group Limited, a
limited company organized under the laws of the United Kingdom ("TVTS")


<PAGE>

on the terms and subject to the conditions set forth therein (capitalized terms
used in this Agreement and not otherwise defined shall have the meanings
ascribed to such terms in the Acquisition Agreement);

WHEREAS, in, or as a result of, the transaction contemplated
under the Acquisition Agreement ("Transaction"), the TVTS Shareholders will
receive, amongst other things, cash and shares of common stock, par value $0.01
per share, of USA ("USA Common Stock") in exchange for shares of TVTS owned by
the TVTS Shareholders at Completion; and

WHEREAS, USA has agreed, on the terms and subject to the
conditions set forth herein, to provide registration rights with respect to the
shares of USA Common Stock to be issued to the TVTS Shareholders upon
consummation of the Transaction.

NOW, THEREFORE, in consideration of the foregoing premises and
the mutual agreements, covenants, representations and warranties contained
herein, and other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties hereto agree as follows:

1. SHELF REGISTRATION STATEMENT.

1.1 FILING; EFFECTIVE PERIOD. USA shall prepare and file with
the SEC as soon as reasonably practicable a Registration Statement on Form S-3
or Form S-4 (or other appropriate form should Form S-3 or Form S-4 be
unavailable for USA) with respect to the Registrable Securities (as defined
below) received by the TVTS Shareholders in the Transaction and shall use
reasonable best efforts to cause such Registration Statement to become effective
within two business days following the Completion Date and remain effective
until the earlier of (i) the date on which the TVTS Shareholders no longer own
any shares of Registrable Securities, and (ii) the one-year anniversary of the
Completion Date if USA has filed all reports required to be filed under the
Securities Exchange Act of 1934 in the twelve months preceding such date, and
otherwise the two-year anniversary of the Completion Date; PROVIDED, that USA
may suspend the effectiveness of such Registration Statement if and only for so
long as USA determines that such registration would require premature disclosure
of material information relating to a pending corporate development; PROVIDED,
FURTHER, that (i) any period of continuous suspension shall not exceed twenty
(20) business days, and (ii) the Registration Statement shall not be suspended
for an aggregate of greater than sixty (60) business days in any calendar year.
USA's obligation under this Section 1.1 is subject to each TVTS Shareholder's
timely cooperation in connection with the preparation and filing of the
Registration Statement. Subject to Section 10.1 of the Acquisition Agreement,
nothing herein shall be interpreted as affecting the right of any TVTS
Shareholder to sell shares of Registrable Securities in open market transactions
as permitted by Rule 145. Based on current circumstances, USA hereby agrees that
it will not take a position that any TVTS Shareholder is an "affiliate" of USA
for purposes of Rule 145.

1.2 REGISTRABLE SECURITIES. For purposes of this Agreement
"Registrable Securities" shall mean only those shares of USA Common Stock
received by the TVTS Shareholders in the Transaction, including, when released,
any shares of the TVTS Shareholders that are subject to the Escrow Agreement (as
may be amended, restated, modified or supplemented); PROVIDED that, for purposes
of clarity, any shares of USA Common Stock issued to any TVTS


-2-

<PAGE>

Shareholder upon the exercise of any option to acquire shares of USA Common
Stock (whether such option was granted in connection with the Transaction or
otherwise) shall not constitute Registrable Securities.

1.3 REGISTRATION STATEMENT EXPENSES. All fees, disbursements
and out-of-pocket expenses and costs incurred by USA in connection with the
preparation of the Registration Statement under this Section 1 and in complying
with applicable securities and blue sky laws shall be borne by USA, including,
without limitation, printing costs, listing fees and SEC filing fees applicable
to the Registrable Securities being registered and all attorneys' fees of USA.

 

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